How Kalshi and Polymarket Are Trying to Copy the Crypto Playbook

Why It Matters

Adopting perpetual futures positions prediction‑market platforms to compete head‑to‑head with major crypto and retail brokers, potentially reshaping the landscape of retail trading and expanding their revenue streams.

Key Takeaways

• PolyMarket launches perpetual futures, mirroring crypto exchange products.
• Perpetual contracts boost crypto volume, grew 50% to $86.2T in 2025.
• Kalshi plans crypto trading, including perpetuals, intensifying competition.
• Prediction markets may rival Coinbase, Robinhood, Kraken in retail trading.
• Shift signals broader financial platform ambitions beyond niche betting.

Summary

The video examines how prediction‑market platforms are moving beyond political or sports bets to adopt crypto‑style perpetual futures. PolyMarket announced the rollout of PERPs—contracts without a fixed expiry—while rival Kalshi is reportedly preparing its own crypto‑trading suite, including similar perpetual products.

Perpetual contracts have become a powerhouse in crypto, driving a near‑50% jump in trading volume to $86.2 trillion in 2025. Their appeal lies in unlimited holding periods, provided traders maintain collateral, a model that has propelled many crypto‑native exchanges to record growth. By adding PERPs, PolyMarket hopes to capture a slice of this liquidity surge.

Industry insiders describe the move as defensive rather than offensive. As one analyst noted, “The prediction‑market guys are saying, ‘Hey, you’re getting into prediction markets. We’re going to get into perpetual futures.’” This signals a direct challenge to established retail brokers and crypto exchanges such as Coinbase, Robinhood, and Kraken.

If prediction‑market firms successfully integrate derivatives, they could evolve into full‑service financial platforms, reshaping retail trading dynamics and intensifying regulatory scrutiny across both traditional and crypto markets.

Original Description

There’s a land grab underway in the U.S. for perpetual futures, one of the biggest and riskiest parts of the crypto trading world — and prediction markets Kalshi and Polymarket reportedly want a piece of it.

Watch the related video to learn why prediction markets are preparing to invade one of crypto’s biggest and riskiest trades.